Honolulu Property Taxes Going Up 8.8%?
May 13th, 2010 categories: Rants & Riffs, The Market
If you are an out of state owner or have rental properties in Honolulu, hang on to your wallet because the Honolulu City Council is working increasing the property taxes on you. The Honolulu Advertiser is reporting the following.
“The council kept in the budget a proposal to boost property taxes on non-occupant homeowners to $3.72 per $1,000 of home value, up from $3.42. The tax increase, which was part of Mayor Mufi Hannemann’s budget proposal, adds about $18 million to city coffers.” CLICK HERE TO READ THE ENTIRE ARTICLE
If this increase goes through the difference between $3.42 and $3.72 is an 8.8% increase in your property taxes. They seem to know only one thing and that is to keep raising taxes. They are exhibiting more of the classic Progressive political thinking and that is to tax the rich (you own another property other than your home so you must be rich). They don’t see that these increases will probably be passed on to tenants and therefore, in the end, they are hurting the people they want to help. It is unfortunate that our elected officials don’t have the courage to address the real issue, too much spending.
If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.
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